Waters (NYSE:WAT) Price Target Increased to $330.00 by Analysts at Barclays

Waters (NYSE:WAT) had its target price lifted by Barclays from $300.00 to $330.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Barclays currently has an underweight rating on the medical instruments supplier’s stock.

WAT has been the subject of several other reports. The Goldman Sachs Group upgraded Waters to a “hold” rating in a research report on Wednesday, July 31st. Evercore ISI upped their target price on shares of Waters from $335.00 to $355.00 and gave the stock an “in-line” rating in a report on Tuesday, October 1st. Wells Fargo & Company initiated coverage on shares of Waters in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $380.00 price target on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Waters from $330.00 to $310.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Finally, Leerink Partners upgraded shares of Waters from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $325.00 to $375.00 in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Waters has a consensus rating of “Hold” and an average target price of $342.58.

Waters Stock Performance

NYSE:WAT opened at $348.45 on Tuesday. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.42 and a current ratio of 2.10. The stock has a market capitalization of $20.68 billion, a PE ratio of 34.71, a P/E/G ratio of 7.02 and a beta of 0.95. Waters has a fifty-two week low of $231.90 and a fifty-two week high of $367.21. The company has a fifty day moving average of $342.54 and a two-hundred day moving average of $325.17.

Waters (NYSE:WAT) last released its quarterly earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.08. Waters had a net margin of 20.71% and a return on equity of 56.81%. The firm had revenue of $709.00 million during the quarter, compared to the consensus estimate of $700.09 million. During the same quarter in the prior year, the firm earned $2.80 EPS. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, research analysts forecast that Waters will post 11.6 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Linscomb Wealth Inc. lifted its stake in shares of Waters by 0.4% in the 2nd quarter. Linscomb Wealth Inc. now owns 7,841 shares of the medical instruments supplier’s stock valued at $2,275,000 after purchasing an additional 34 shares during the last quarter. Johnson Investment Counsel Inc. lifted its position in Waters by 3.2% in the second quarter. Johnson Investment Counsel Inc. now owns 1,084 shares of the medical instruments supplier’s stock valued at $314,000 after buying an additional 34 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in Waters by 3.0% during the second quarter. Summit Trail Advisors LLC now owns 1,170 shares of the medical instruments supplier’s stock worth $339,000 after buying an additional 34 shares during the period. Retirement Systems of Alabama increased its position in shares of Waters by 0.3% during the second quarter. Retirement Systems of Alabama now owns 13,087 shares of the medical instruments supplier’s stock valued at $3,797,000 after acquiring an additional 37 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its stake in shares of Waters by 1.4% in the 3rd quarter. Vontobel Holding Ltd. now owns 2,782 shares of the medical instruments supplier’s stock valued at $1,001,000 after acquiring an additional 39 shares during the period. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

About Waters

Waters Corporation provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments: Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.